As cryptocurrency investing is becoming more mainstream, it keeps attracting wealthier and more cautious established players. To answer the need for enhanced security by such investors, one of the biggest names in the gold business, Goldmoney, has now expanded its bitcoin cold storage service to include ethereum and bitcoin cash.
Goldmoney Expands Cold Storage
Goldmoney, a precious metal investment service and payment network traded on the Toronto Stock Exchange (TSX:XAU), is expanding its bitcoin (BTC) cold storage to include two more cryptocurrencies. The company has announced that ethereum (ETH) is now available to all its 'Full Verified Goldmoney Holding Owners' as a fully-reserved offline investable asset, with bitcoin cash (BCH) to follow in the coming weeks.
Clients can now directly purchase auditable and AML-compliant (Anti-Money Laundering) ethereum and sell their holdings back to Goldmoney in the same way they trade precious metals. The company explains that "securely stored in 'cold storage', client cryptocurrency holdings are password protected and shielded from being used in hot wallets or third-party transfers."
From Gold to Crypto
According to its public records, Goldmoney is safeguarding nearly $2 billion in assets for clients located in more than 150 countries and brings in $524 million in yearly revenues. Back in December 2017 it was revealed that the gold specialist is now involved more in the cryptocurrency business than the precious metal trade that gives it its name.